Zoox, the driverless car maker founded by Australian Tim Kentley-Klay, has reportedly been sold to Amazon for around $1.5 billion after once being valued at three times as much.

However Mike Cannon-Brookes, the Atlassian co-founder who invested $US100 million in Zoox in a $US500 million July 2018 round which gave it a $US3.2 billion ($4.5 billion) post-money valuation, is said to have broken even or profited on the deal. That is thanks to a 'ratchet' provision preventing a dilution of his shareholding in the event of a subseqent share sale at a lower valuation.